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Five reasons why strategy is vital

Somerset Maugham once said, “We live in uncertain times.” As we emerge from the pandemic it is essential that leaders plot a clear path ahead. Strategy has never been so important.

Oxford Languages defines strategy as follows, “A plan of action designed to achieve a long-term or overall aim.” There’s so much value in that definition, which we will unpack in our blog below. So here are our five reasons why strategy is important.

1. Clarity on your current position

When Alex Ferguson started as the new Manchester United manager in 1986, the club were 19th in the league. They had only won 12 of their previous 40 games.

His first step was to clarify their position. Even though they were no longer competitive, he recognised the amazing potential of their youth team and started to build for the future.

After looking at the strengths and weaknesses of the opposition, he also realised he needed to change their training methods to achieve success.

The rest is history. Alex Ferguson and his team lifted over 30 trophies in 26 years.

The business landscape is equally competitive, yet the large majority of companies and charities behave as if they are operating in isolation.

You can define your current position by answering these questions:

  • Do you understand your market?
  • Do you understand what makes your organisation different?
  • Have you carried out competitor analysis?
  • Do you understand what needs to change?

The following quote from Henry Mintzberg, sums up the power of clarifying your position:

“Strategy is not the consequence of planning, but the opposite: it’s the starting point.”

2. The power of goals

“A Harvard Business Study found that the 3% of graduates from their MBA who had their goals written down, ended up earning ten times as much as the other 97% put together, just ten years after graduation”. (Forbes, 2017).

If you set clear goals, you are able to visualise and achieve success. This helps trigger positive behaviours, even during rough patches, by reminding yourself about the big inspiring goal.  

We recommend you set clear goals that are measurable and achievable. It will also help to have clear timeframes that you regularly review.

The importance of setting the right goals goals is beautifully made by Kinichi Ohmae, “Rowing harder doesn’t help if the boat is headed in the wrong direction.”

3. Identifies key activities

One of the most effective ways to be successful is to understand which activities matter most to achieve your purpose.

We recommend you break down these activities into bite-sized chunks that highlight the key actions on which you want to focus. These should include: how to build your offer, how to reach your target audience, and how to manage and grow partnerships that deliver revenue.

Muhammad Ali, summed up the importance of identifying important activities, even when they are not the most enjoyable, when he said, “I hated every minute of training, but I said… don’t quit, suffer now, and live the rest of your life as a champion.”

4. Empowers your team

Having a clear strategy empowers your colleagues by giving them permission to take actions in line with the identified goals. An empowered team feels more confident and focused and results are more rewarding.

The following quote from McKinsey & Company sums it up perfectly, “Empowerment is much easier if the strategic intent of the organisation is clear. If everyone knows what the organisation is trying to achieve, teams can pull in the same direction without requiring the leader’s constant supervision.”

5. Brings colleagues with you

Finally, and most importantly, having a clear strategy gives your colleagues a big goal to rally around. Colleagues who can your vision will feel more engaged and motivated to give their best. This is because they see their role in the long-term plan.

The result? A loyal and committed workforce who are proud to work for their organisation.  

The following quote from Helen Keller brilliantly sums up the importance of a united team:

"Alone we can do so little; together we can do so much."  

We hope this blog gives you the inspiration and insight to write your own strategy. You can also join us on our Corporate Partnerships Strategy Training starting on 22nd September. Click here to find out more and book your place.

Conclusion

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More than money – what to value in a corporate partnership

This piece is brought to you by a guest writer – Katherine Woods.  Katherine is the Partnership Development Lead at Action for Children and is currently setting up the charity’s first standalone New Business Team. Here’s what she had to say about the non-financial value your partners can bring:

I find the corporate-partnership world really exciting. It’s evolved massively over the past few years and continues to do so. Today, the most successful partnerships are multi-faceted. They have touchpoints across all aspects of the business. And they don’t simply rely on fundraising as the sole piece of activity.

Andy at Remarkable Partnerships asked me to outline what I see as the main non-financial benefits that a partner can provide. So here’s what I look at in partnerships:

  1. Reach

There is a reason that big consumer brands spend millions of pounds on advertising annually. Visibility is key.

But there are very few charities that have those kind of budgets.

Which is why a partnership can hold such great potential for a charity brand—from expanding your general reach to spotlighting your cause for targeted groups. Our development team, drawing from a consultant with prior campaigns in the privacy-centric online gaming space like the best no KYC casinos, has piloted anonymous donation channels that draw in tech-savvy supporters wary of traditional tracking. Whatever your organisation’s mission, these expanded visibility opportunities will advance it further. The more people recognize your brand and mission, the greater their inclination to contribute.

For example, we are incredibly lucky at Action for Children because our friends at FirstGroup are very generous with their advertising space. We are given huge amounts of visibility across their network. They enable us to publicise our key campaigns in a way that we simply wouldn’t be able to do without them.

2. In Kind

Back to the lack of budget. There are a range of ways that a company can help a charity plug the lack-of-budget gap by donating resource, such as event space or legal expertise. These are opportunities for the company to support you with the cause itself.

Not only does it help the charity, but it can give your partner’s employees another way of being part of the partnership that doesn’t involve them asking friends and family for money.

But! It has to really make sense. It has to be authentic. There’s nothing worse than trying to create an ‘in kind’ opportunity that doesn’t really work for both sides.

3. Network

Over the course of a partnership you have the potential to ignite a passion for your cause in people.

As fundraisers, we do a good job of telling people how amazing our charities are. Imagine if you had someone else doing that for you. A peer-to-peer introduction carries a lot of weight and can open doors, helping you achieve bigger and better things.

I’ve been incredibly fortunate to work with some very dedicated, passionate and influential senior volunteers over the years. They are often totally wonderful individuals and can be a huge asset to your organisation. Maximise this potential!

Overall, there is a huge amount corporate partners can do for you – so stop just asking for cash.

We love this piece from Katherine. Our view is that when you choose to focus partnerships on overall value rather than purely cash donations, you get more fulfilling partnerships for both parties. Equally, partnerships that begin with a non-financial contribution are more likely to succeed because they begin by focussing on solving problems, which is what they should be about.

If you have any comments or suggested comments for future blogs, we’d love to hear from you below.

This piece is brought to you by a guest writer – Katherine Woods. Katherine is the Partnership Development Lead at Action for Children and is currently setting up the charity’s first standalone New Business Team. Here’s what she had to say about the non-financial value your partners can bring:

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5
min read
Highlights from Anchors Aweigh: launch event

On the 1st of July, we were delighted to be joined by 80 professionals from across the charity and business sectors for the launch of our new research – Anchors Away: breaking free of the barriers to ambitious charity-company partnerships. We heard from four incredible speakers and had some great comments in the Zoom chat, and we’re proud to share some of the highlights.

Barriers from the company side:

Jenni Berkley, Communications and CSR Manager of Belfast Harbour, started the event by talking about the barriers to ambition she’s experienced in the corporate secotr

“The problem is short-termism. Many people want to see something good happen in their timeframe or tenure. Something good even if it’s not the right thing.”

“I must get around 20 letters a week from charities I’ve never spoken to or maybe even heard of asking for money. It’s incredibly frustrating – they may get £100 if they’re incredibly lucky, but there needs to be an understanding of how our partnerships operate.”

“Charity-company partnerships are like finding your life partner… right down to wondering if you like the same films. You need to be compatible with each other from the superficial details all the way through to sharing the same ethos. It’s up to the charity to demonstrate that.”

Barriers from the charity side:

Then Ghalib Ullah, Head of Commercial Partnerships, spoke about the barriers he’s encountered and overcome through his career.

“The biggest barrier is structural. Our budget works on a yearly basis, so we are pulled back to achieving short term income, rather than achieving our more ambitious goals. We need to work as a whole organisation to overcome this.”

“Another barrier is organisational buy-in. We went through a process of identifying who internally was key to our success as a team. We understand that we’re pitching internally as much as we are externally.”

“Corporate partnerships is still in its infancy. How to achieve strategic partnerships is not as well understood as how to secure major grant funding. It is essential we invest in training as a team and as individuals.”

Background to the research:

We then moved to discussing how the research came about, before discussing some of the key recommendations.

“We defined ambition as the desire to create the most social value possible, then looked at what held people back from pursuing ambitious partnerships in favour of things like Charity of the Year or sponsorship models instead.” – Ian McQuillin, Rogare

One of the main things we found was the collaboration continuum, which we have adapted from Austin and Seitinedi. You can see the model that explains levels of ambitions below:

“Charity-company partnerships can make great changes in the world, so it’s a missed opportunity to be anything short of as ambitious as possible.” – Jonathan Andrews, Remarkable Partnerships

The importance of seeking value beyond money:

“The fundraisers label can hold us back. We need to be corporate value raisers, not corporate fundraisers.” – Jonathan Andrews, Remarkable Partnerships

“There are so many different ways partnerships deliver value – which are easy to overlook if money is the only or main measure of success.” – Crispin Manners, Onva Consulting

“I would recommend starting to report on added value, where it exists, as well as income. Don’t wait to be asked to report on it, just send out the results and examples you have as part of your normal reporting so that it starts to become embedded and better understood.” – Sophie Powell-White, Great Ormond Street Hospital

The importance of having a partnership north star:

“It is important that your projects excite not only your corporate team but your partners – they need to visualise the potential impact they could have on the world.” – Ghalib Ullah, Parkinson’s UK

“All the team have in their heads. That when we go into a conversation with a company what we are looking for is that ambition at the top of our partnership model. Which is an ambition that only us and that company can achieve… If you’ve got that ambition then all the levers for change will naturally fall out of it because it is so strategic to both sides…. In three years’ time what would the Sun newspaper headline say [the partnership] has achieved?” – charity interviewee in the research.

To get your copy of the full report, download it here

On the 1st of July, we were delighted to be joined by 80 professionals from across the charity and business sectors for the launch of our new research – Anchors Away: breaking free of the barriers to ambitious charity-company partnerships. We heard from four incredible speakers and had some great comments in the Zoom chat, and we’re proud to share some of the highlights.

Stay Informed. Stay Remarkable.